Schwartz Investment Counsel Inc. Reduces Stock Holdings in Franco-Nevada Corporation $FNV

Schwartz Investment Counsel Inc. reduced its holdings in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 2.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,700 shares of the basic materials company’s stock after selling 3,000 shares during the period. Schwartz Investment Counsel Inc. owned approximately 0.06% of Franco-Nevada worth $30,313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. GAMMA Investing LLC increased its stake in Franco-Nevada by 112.3% during the 4th quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 64 shares in the last quarter. Transamerica Financial Advisors LLC purchased a new stake in shares of Franco-Nevada during the fourth quarter valued at $25,000. Burkett Financial Services LLC acquired a new position in shares of Franco-Nevada in the 3rd quarter valued at $28,000. Private Trust Co. NA acquired a new position in shares of Franco-Nevada in the 4th quarter valued at $29,000. Finally, Smartleaf Asset Management LLC raised its stake in Franco-Nevada by 600.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 168 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on FNV. TD Cowen raised Franco-Nevada from a “hold” rating to a “buy” rating and lowered their price target for the stock from $292.00 to $291.00 in a research report on Wednesday, May 20th. National Bank Financial upgraded Franco-Nevada from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, May 13th. Zacks Research downgraded Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. HC Wainwright reiterated a “buy” rating and issued a $305.00 target price on shares of Franco-Nevada in a research report on Wednesday, May 13th. Finally, TD upgraded Franco-Nevada from a “hold” rating to a “buy” rating and dropped their target price for the company from $292.00 to $291.00 in a research report on Wednesday, May 20th. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Franco-Nevada presently has an average rating of “Moderate Buy” and a consensus target price of $275.00.

Franco-Nevada Stock Performance

NYSE:FNV opened at $200.31 on Tuesday. The firm’s fifty day moving average is $220.94 and its two-hundred day moving average is $236.98. The firm has a market cap of $38.63 billion, a price-to-earnings ratio of 28.21, a PEG ratio of 1.74 and a beta of 0.36. Franco-Nevada Corporation has a one year low of $152.89 and a one year high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.29. Franco-Nevada had a return on equity of 18.10% and a net margin of 65.12%.The business had revenue of $650.70 million during the quarter, compared to analysts’ expectations of $634.43 million. During the same quarter in the previous year, the firm posted $1.07 EPS. The company’s revenue for the quarter was up 76.6% on a year-over-year basis. As a group, equities research analysts predict that Franco-Nevada Corporation will post 8.22 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were issued a $0.44 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a yield of 0.9%. Franco-Nevada’s payout ratio is presently 24.79%.

Franco-Nevada Company Profile

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company’s business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.